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Average Loan Size Rises.(mortgages)
NEW YORK -- The nation's top 75 mortgage servicers reported an average increase in loan size of about 11% at March 31, 2006, according to MSN's Quarterly Data Report.
Two of the country's top 10 servicers recorded the highest loan size change during the quarter.
Leading the way in average loan size growth was Paul Financial of San Rafael, Calif., the nation's 10th largest residential mortgage servicer, whose loan size at March 31, compared to the same quarter in 2005, increased by 65%, reaching $211,238, up from $128,148.
Opteum Financial Services of Paramus, N.J., reported a 30% average loan growth at $213,693 at March 31, up from $164,331 at March 31, 2005.
PFF Bank & Trust of Rancho Cucamonga, Calif., and Aurora Loan SERvices Inc. of Aurora, Colo., the nation's 14th and 15th largest servicers, respectively, reported an average loan growth of 22% and 20%. PFF's average loan changed from $161,684 in 2005, to $198,015 in 2006. Aurora's increased from $162,525 in the first quarter of 2005 to $194,614 in the same quarter in 2006.
Meanwhile, Libby Preston, senior vice president at Security Savings Mortgage Corp., Canton, Ohio, told MSN its average loan sizes have been erroneously reported to the Quarterly Data Report. If the end of first quarter 2006 average loan size reported at $136,229 ...
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- Average Loan Size Rises.
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- Magazine article from: National Mortgage News April 19, 2004 700+ words
...San Diego, CA 4 First Savings Mortgage Vienna, VA 5 Ridgewood Savings Bank Ridgewood, NY (part 2 of 2) Avg Loan Size Avg Loan Size Percent Rk 12/31/2003 12/31/2002 Change 1 $836,185 $695,915 20.16% 2 $513,040 $468,520...
- Average Loan Size Of Residential Lenders (3q 2003).
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